The Lease Extension Agreement is a crucial document in South African property law, used when parties wish to continue their landlord-tenant relationship beyond the original lease term. This document type is particularly relevant when both parties are satisfied with their existing arrangement but need to formally extend its duration. It references the original lease agreement while specifying new end dates, potentially updated rental amounts, and any modified terms. The agreement must comply with South African legislation, including the Rental Housing Act for residential properties and common law for commercial leases. It's commonly used in both commercial and residential contexts, requiring careful consideration of current market conditions and legal requirements. The document typically includes details about the extended term, rental adjustments, and any new conditions while confirming the continuation of other original lease terms.
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1. Parties: Full legal names and details of the Landlord and Tenant, including registration numbers for companies or ID numbers for individuals
2. Background: Reference to the original lease agreement, its commencement date, current expiry date, and the parties' intention to extend the lease
3. Definitions: Definitions of key terms used in the agreement, including references to terms defined in the original lease agreement
4. Extension of Lease Period: Clear statement of the new extended period, including commencement and termination dates
5. Rental and Escalation: Specification of the rental amount for the extended period and any applicable escalation rates
6. Confirmation of Original Terms: Clause confirming that all other terms and conditions of the original lease remain unchanged and in full force and effect
7. Costs: Allocation of costs related to the preparation and execution of the extension agreement
8. Signatures: Execution clause and signature blocks for all parties, including witnesses
1. Modified Terms: Section specifying any terms from the original lease that are being modified, other than the duration and rental (used when other terms are being updated)
2. Security Deposit: Details of any additional security deposit required for the extended period (used if security deposit terms are changing)
3. Special Conditions: Any new special conditions applicable to the extended period (used when new specific requirements are needed)
4. Maintenance and Repairs: Modified maintenance obligations if different from original lease (used when maintenance terms are changing)
5. Break Clause: Option for early termination during the extended period (used when early termination rights are being granted)
6. Option to Renew: Details of any further renewal options (used when granting additional future extension rights)
1. Original Lease Agreement: Copy of the original lease agreement being extended
2. Rental Schedule: Detailed breakdown of rental amounts and escalation dates for the extended period
3. Property Description: Detailed description of the leased premises, including any changes to the original premises
4. Condition Report: Updated condition report of the premises at the time of extension
5. Resolution/Authority: Corporate resolutions or other authority documents if parties are companies
Relevant legal definitions
Agreement
Original Lease Agreement
Commencement Date
Extended Term
Extension Period
Termination Date
Original Terms and Conditions
Premises
Rental
Escalation Rate
Business Day
Effective Date
Landlord
Tenant
Parties
Property
Modified Terms
Occupation Date
Lease Period
Initial Period
Security Deposit
Permitted Use
Common Areas
Operating Costs
Rental Payment Date
Signature Date
Original Lease Agreement
Commencement Date
Extended Term
Extension Period
Termination Date
Original Terms and Conditions
Premises
Rental
Escalation Rate
Business Day
Effective Date
Landlord
Tenant
Parties
Property
Modified Terms
Occupation Date
Lease Period
Initial Period
Security Deposit
Permitted Use
Common Areas
Operating Costs
Rental Payment Date
Signature Date
Clauses
Interpretation
Extension of Term
Rental and Escalation
Confirmation of Existing Terms
Security Deposit
Maintenance and Repairs
Insurance
Utilities and Services
Break Clause
Option to Renew
Assignment and Subletting
Property Access
Compliance with Laws
Default and Remedies
Notices
Costs
Governing Law
Dispute Resolution
Force Majeure
Entire Agreement
Severability
Amendment
Waiver
Counterparts
Authority
Binding Effect
Extension of Term
Rental and Escalation
Confirmation of Existing Terms
Security Deposit
Maintenance and Repairs
Insurance
Utilities and Services
Break Clause
Option to Renew
Assignment and Subletting
Property Access
Compliance with Laws
Default and Remedies
Notices
Costs
Governing Law
Dispute Resolution
Force Majeure
Entire Agreement
Severability
Amendment
Waiver
Counterparts
Authority
Binding Effect
Relevant Industries
Real Estate
Retail
Commercial Property
Residential Property
Industrial
Office Space
Hospitality
Agriculture
Manufacturing
Warehousing
Healthcare
Education
Relevant Teams
Legal
Property Management
Facilities Management
Operations
Finance
Compliance
Real Estate
Asset Management
Administration
Contract Management
Relevant Roles
Property Manager
Facilities Manager
Legal Counsel
Real Estate Manager
Operations Director
Commercial Director
Contract Manager
Leasing Manager
Asset Manager
Property Administrator
Corporate Real Estate Manager
Compliance Officer
Chief Financial Officer
Business Development Manager
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